The report covers North American lubricants Companies and the market is segmented by end-user (automotive, heavy equipment, metallurgy & metalworking, power generation), by product type (engine oils, greases, hydraulic fluids, metalworking fluids, transmission & gear oils), and by country (Canada, Mexico, United States).

The Latin America Lubricants Report is Segmented by Product Type (Engine Oils, Transmission and Gear Oils, Hydraulic Fluids, and More), End-User Industry (Automotive, Power Generation, Heavy Equipment, Metallurgy and Metalworking, and Other End-User Industries), and Geography (Brazil, Mexico, Argentina, Colombia, Chile, Peru, and Rest of Latin America). The Market Forecasts are Provided in Terms of Volume (Liters).

The total market value of lubricants in the United States amounted to nearly ** billion U.S. dollars in 2021. That was an increase of more than *** billion U.S. dollars compared to seven years previously in 2014.

The South America Lubricants Report is Segmented by Product Type (Engine Oils, Transmission and Gear Oils, Hydraulic Fluids, Greases, and More), Base Oil (Mineral, Synthetic, Semi-Synthetic, and Bio-Based), End-User (Automotive, Heavy Equipment, Metallurgy and Metalworking, Power Generation, Marine and Offshore, and Other Industries), and Geography (Argentina, Brazil, Chile, Colombia, Peru, and Rest of South America).

The market value of lubricants and fuel additives in North America reached *** billion U.S. dollars in 2023 and is forecast to climb to more than *** billion U.S. dollars by 2031. More information on the lubricant and fuel additives market can be found here.

Discover the booming Latin America Lubricants Market! This comprehensive analysis reveals a CAGR of 3.13% through 2033, driven by automotive, heavy equipment, and industrial growth. Explore market size, key players (BP, Chevron, Shell), and regional trends in Mexico, Brazil, and Argentina. Invest wisely with our data-driven insights. Recent developments include: May 2022: Shell plc completed the sales of the lubricants division in Brazil to Raizen. This disinvestment will decrease Shell plc's market presence in Brazil's lubricants market., June 2021: Chevron acquired Puma Energy's fuels and lubricants businesses in Latin America, which included assets in eight countries. This strategic move expanded Chevron's market presence in the region and strengthened its lubricants portfolio.. Key drivers for this market are: Increasing Demand for High Performance Lubricants, Growing Demand Form Construction and Power Generation Industries; Increasing Usage of Lubricants in Automotive and Transportation. Potential restraints include: Increasing Demand for High Performance Lubricants, Growing Demand Form Construction and Power Generation Industries; Increasing Usage of Lubricants in Automotive and Transportation. Notable trends are: Automotive Segment May Witness Significant Market Growth.

The Latin America lubricants market was valued at USD 5.90 Billion in 2024. The industry is expected to grow at a CAGR of 5.60% during the forecast period of 2025-2034. The growing agriculture sector in the region, mainly in Brazil and Argentina, stimulates the demand for lubricants for farm machinery, further enhancing productivity and supporting the development of markets in rural and industrial areas. In turn, all these factors have resulted in the market attaining a valuation of USD 10.17 Billion by 2034.

The South American lubricants market, encompassing engine oils, greases, hydraulic fluids, and metalworking fluids, is experiencing robust growth, driven primarily by the expansion of the automotive and heavy equipment sectors across the region. Brazil, Argentina, and Colombia represent the largest markets, contributing significantly to the overall market size. The increasing industrialization and infrastructure development projects in these countries are fueling demand for lubricants across various end-user industries, including power generation and metallurgy. Furthermore, the rising adoption of advanced lubricant technologies, focused on improving fuel efficiency and engine performance, is another key driver. However, economic volatility in certain South American nations and fluctuations in crude oil prices pose challenges to market growth. Competition amongst established international players like BP, ExxonMobil, and Shell, along with regional players like Petrobras and Terpel, is intense, leading to price competitiveness and innovation in product offerings. The market is witnessing a shift towards higher-performance, environmentally friendly lubricants, aligning with global sustainability initiatives and stricter emission regulations. Growth in specific segments like specialized metalworking fluids for advanced manufacturing techniques is also expected. Overall, the South American lubricants market presents a promising investment opportunity, despite existing challenges, projected to maintain a steady CAGR over the forecast period (2025-2033). While precise figures for market size and CAGR were not provided, a reasonable estimation can be made based on regional growth trends and industry benchmarks. Assuming a current market size (2025) of approximately $5 Billion USD for South America, and considering the drivers and restraints, a conservative CAGR of 4-5% for the forecast period (2025-2033) appears plausible. This assumes steady economic growth in key markets and a continued focus on infrastructure development and industrial expansion. This growth will likely be uneven across the region, with Brazil and Argentina likely outpacing other nations. Market segmentation will continue to evolve with a focus on high-performance products and environmentally conscious solutions driving innovation and product diversification. The competitive landscape remains dynamic, with both multinational corporations and regional players vying for market share. Recent developments include: March 2022: ExxonMobil Corporation company has appointed Jay Hooley as lead managing director of the company.January 2022: Effective April 1, ExxonMobil Corporation was organized along three business lines - ExxonMobil Upstream Company, ExxonMobil Product Solutions and ExxonMobil Low Carbon Solutions.January 2022: Effective January 21, 2022, Royal Dutch Shell plc changes its name to Shell plc.. Notable trends are: Largest Segment By End User : Automotive.

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Lubricants Market Size 2025-2029

The lubricants market size is valued to increase by USD 26.7 billion, at a CAGR of 3.5% from 2024 to 2029. Increasing demand for lubricants from end-user industries will drive the lubricants market.

Major Market Trends & Insights

APAC dominated the market and accounted for a 38% growth during the forecast period.
By Application - Automotive oils segment was valued at USD 71.80 billion in 2023
By Product - Mineral oil-based lubricants segment accounted for the largest market revenue share in 2023

Market Size & Forecast

Market Opportunities: USD 31.96 billion
Market Future Opportunities: USD 26.70 billion
CAGR from 2024 to 2029 : 3.5%

Market Summary

The market experiences continuous expansion due to the escalating demand from various end-user industries, including automotive, manufacturing, and power generation. One significant trend shaping this sector is the increasing adoption of bio-based lubricants, which offer environmental benefits and improved performance. These eco-friendly alternatives have gained traction, especially in industries striving for sustainability. Crude oil price fluctuations significantly impact the market, as petroleum-derived lubricants account for a substantial portion of the overall demand. The market's size was valued at USD 165.5 billion in 2020, according to market research. As industries adapt to the evolving market landscape, they seek advanced lubricant solutions to enhance efficiency, reduce downtime, and ensure optimal performance.
Innovations in lubricant technology, such as nanotechnology and synthetic lubricants, are driving growth in the market. These advancements offer improved wear protection, increased energy efficiency, and extended lubricant life. As industries continue to prioritize productivity and sustainability, the market is poised for continued expansion.

What will be the Size of the Lubricants Market during the forecast period?

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How is the Lubricants Market Segmented?

The lubricants industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Application

  Automotive oils
  Industrial oils
  Process oils
  Metalworking fluids
  Greases


Product

  Mineral oil-based lubricants
  Synthetic lubricants
  Bio-based lubricants


Grade Type

  Group II
  Group III
  Group I
  Group IV
  Group V


End-user

  Transportation
  Manufacturing
  Construction
  Mining
  Agriculture
  Others


Distribution Channel

  Direct Sales
  Distributors/Wholesalers
  Retail
  Online


Geography

  North America

    US
    Canada


  Europe

    France
    Germany
    Italy
    UK


  Middle East and Africa

    Egypt
    KSA
    Oman
    UAE


  APAC

    China
    India
    Japan


  South America

    Argentina
    Brazil


  Rest of World (ROW)

By Application Insights

The automotive oils segment is estimated to witness significant growth during the forecast period.

The market is experiencing significant growth, fueled by the increasing production and demand for vehicles, particularly in developing countries like China, India, Brazil, and Indonesia. This expanding automotive sector relies heavily on lubricants, which are essential for reducing friction and wear in various automotive applications, such as engine oils, hydraulic fluids, and gear lubricants. The market is witnessing a shift towards synthetic lubricants, including synthetic esters and synthetic lubricants, due to their superior performance under extreme pressure and high temperatures. These advanced lubricants offer enhanced wear protection, oxidation inhibition, and viscosity control. Moreover, the demand for biodegradable lubricants and those with improved rheological properties is on the rise, driven by environmental concerns and the need for improved tribology testing and oil analysis.

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The Automotive oils segment was valued at USD 71.80 billion in 2019 and showed a gradual increase during the forecast period.

According to recent industry reports, the market is projected to grow, reaching a market size of USD 212.4 billion by 2026. This growth is attributed to the increasing demand for high-performance lubricants, the ongoing research and development in lubricant technology, and the expanding automotive and industrial sectors.

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Regional Analysis

APAC is estimated to contribute 38% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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The mark

Technological advancements in the North America Lubricants industry are shaping the future market landscape. The report evaluates innovation-driven growth and how emerging technologies are transforming industry practices, offering a comprehensive outlook on future opportunities and market potential.

The North America Lubricants market was valued more than USD 25 Billion in 2023 due to Expansion of automotive fleet

The United States Lubricants Market Report is Segmented by Product Type (Automotive Engine Oil, Industrial Engine Oil, Transmission Fluids, Gear Oil, Brake Fluids, Hydraulic Fluids, and More), End-User Industry (Automotive, Marine, Aerospace, Heavy Equipment, and Industrial), and Base Stock Type (Mineral Oil-Based, Synthetic, Semi-Synthetic, and Bio-Based Lubricants). The Market Forecasts are Provided in Terms of Volume (Litres).

The size of the Latin America Lubricants Market market was valued at USD XX Million in 2023 and is projected to reach USD XXX Million by 2032, with an expected CAGR of 3.13% during the forecast period. Recent developments include: May 2022: Shell plc completed the sales of the lubricants division in Brazil to Raizen. This disinvestment will decrease Shell plc's market presence in Brazil's lubricants market., June 2021: Chevron acquired Puma Energy's fuels and lubricants businesses in Latin America, which included assets in eight countries. This strategic move expanded Chevron's market presence in the region and strengthened its lubricants portfolio.. Key drivers for this market are: Increasing Demand for High Performance Lubricants, Growing Demand Form Construction and Power Generation Industries; Increasing Usage of Lubricants in Automotive and Transportation. Potential restraints include: Increasing Demand for High Performance Lubricants, Growing Demand Form Construction and Power Generation Industries; Increasing Usage of Lubricants in Automotive and Transportation. Notable trends are: Automotive Segment May Witness Significant Market Growth.

This statistic shows the estimated market value of automotive lubricants in the United States from 2014 to 2016, with forecasted figures for 2017 to 2025. It is forecasted that the U.S. market value of automotive lubricants will amount to nearly ** billion U.S. dollars in 2025.

This statistic shows the estimated market value of industrial lubricants in the United States from 2014 to 2016, with forecasted figures for 2017 to 2025. It is forecasted that the U.S. market value of industrial lubricants will amount to nearly ************ U.S. dollars in 2025.

The size of the North America Passenger Vehicles Lubricants Market was valued at USD 22.56 Million in 2023 and is projected to reach USD 32.86 Million by 2032, with an expected CAGR of 0.98% during the forecast period. Recent developments include: July 2021: Mighty Distributing System (Mighty Auto Parts), a pioneer in automotive aftermarket goods and services, announced a new relationship with Total Specialties USA. It would target the Quartz Ineo and Quartz 9000 sub-ranges, geared for light automobiles and meet European OEMs' most stringent criteria.June 2021: TotalEnergies and Stellantis group renewed their partnership for cooperation across different segments. Along with the renewal of partnerships with Peugeot, Citroën, and DS Automobiles, the new collaboration extends to Opel, and Vauxhall as well. This partnership includes the development and innovation of lubricants, first-fill in Stellantis group vehicles, recommendation of Quartz lubricants, and shared usage of charging stations operated by TotalEnergies, among others.June 2021: Castrol launched Castrol ON TM, a new line of e-fluids for electric vehicles. It includes e-greases, e-thermal fluids, and e-transmission fluids, all of which are employed in different electrical vehicle applications.. Key drivers for this market are: Increasing Automotive Production and Sales, Increasing Adoption of High-performance Lubricants. Potential restraints include: Extended Drain Intervals, Modest Impact of Electric Vehicles (EVs) in the Future. Notable trends are: Largest Segment By Product Type : Engine Oils.

Latin America's fluids and lubricants market was worth nearly **** billion U.S. dollars in 2023 and is forecast to exceed ** billion U.S. dollars in market value by 2028.More information on the fluids and lubricants market can be found here.

The North America automotive lubricants market size reached approximately USD 22.56 Billion in 2024. The market is projected to grow at a CAGR of 4.20% between 2025 and 2034, reaching a value of around USD 34.04 Billion by 2034.

This statistic shows the market volume of automotive lubricants in the United States from 2014 to 2016, with forecasted figures for 2017 to 2025, by product. It is forecasted that in 2025, the U.S. market volume of engine oil will be some *** million tons.

Latin America Lubricants Market was valued at USD 12.64 Billion in 2024 and is projected to reach USD 16.18 Billion by 2032, growing at a CAGR of 3.6% from 2025 to 2032.

Latin America Lubricants Market Drivers

Growing Automotive Industry: The region is witnessing significant growth in the automotive sector, with increasing vehicle ownership and production. This surge in automotive activity translates directly into higher demand for engine oils, transmission fluids, and other lubricants.

Industrial Expansion: Latin America is experiencing industrial growth across various sectors, including manufacturing, construction, and mining. These industries heavily rely on machinery and equipment that require regular lubrication for optimal performance and longevity.

Infrastructure Development: Ongoing infrastructure projects, such as road construction, port expansion, and energy generation, contribute to the demand for lubricants in heavy-duty equipment and machinery.

Economic Growth: The overall economic growth in many Latin American countries is fueling industrial activity and consumer spending, leading to increased demand for transportation and industrial machinery, and consequently, for lubricants.